All Forum Posts by: Rowan Yearwood

Good Morning!

Tomorrow I will be making my first set of cold calls (for wholesaling) and I just want to make sure I've thought everything through. I usually have a rule against giving offers over the phone but it looks like I'm going to have to now. I know how to run comps myself and I'm trying to avoid using a real estate agent because i'll be going through 100s of properties and they'll get sick of me.

For people who invest out of state or cold call, do you have any advice?

Keywords: Baltimore, Prince George’s, Washington DC

Hey everyone!

I'm a new real estate investor that's looking to make a little extra cash to help with closing costs on a property this summer. I figured what better way to do that than help out a fellow investor! That way I can learn and work. 

Wholesalers!

Need help distributing flyers/ads? Inbox me!

Landlords!

Need assistance with administrative work? Inbox me!

Rehabbers!

Need an extra hand on a project? Inbox me!

If you have anything other needs that I didn't list, feel free to let me know! I'm a quick study and very reliable. Let's get to work!

- RHY

 I'm currently looking at getting a part job along with some little side hustles to save up funds. I don't have the house just yet. I'm looking to buy it in July/August because that's when my current apartment lease is up. A partnership would be an ideal situation. Preferably, if it's one where where their money is used to fund the deal and I just put in the work. I've been looking for one but I'm also looking for an alternative just in case that plan doesn't work out.

I thought that the FHA loan would only work if I was living in one of the units? I'm up for the idea of house hacking but don't think I'll be able to do that with all the properties I plan on buying.

@Corby Goade I don’t know how I didn’t think of that. Thanks a bunch for commenting!

Hello BPers!

So, I was looking at my property portfolio growth plan I made when I was brand new to real estate investing and I noticed that my plan was missing a very important part... How am I going to afford the down payments on this properties? I don't know how I managed to miss that but I did. I spent an 30 minutes staring blankly at my computer screen, trying to mentally refer back to what I had read in Brandon's book "The Book on No & Low Money Down Real Estate Investing". 

Then, I started to wonder, "Why couldn't I just sell the house later on and use the money to buy a house?" Now, this is where I need help from you guys. I was looking at selling at the two year mark but the rational side of me says that there's no way I can make anything off a ~$100k property in just two years. Then again, I've never sold a property before so what do I know? 

By the way, I'm not making a lot of cash from work. Enough to live, yes, but not enough to afford a 20% down payment which is why I'm trying to find a different route.

Hey Matt!

I can give you the contact info to my realtor, Vernon Debro, if you’d like. He’s very helpful and pretty straightforward. 

Hey Joy Ayisoe!

My real estate agent is really good and very helpful. I was actually surprised by how helpful and honest he was my first time here working with him. His name is Vernon Debro. I can send his contact info to your inbox.

Hey BPers!

I will be purchasing my first rental property in September which I'm very excited about. It'll be a SFH that will be owner occupied for about a year or so because I am not made of money (yet) and can't come up with a 20% down payment. Since September is such a long way from now, the idea of wholesaling has been very appealing to me for the past couple of months. I set my start date with wholesaling to February 15th (to avoid analysis paralysis) and even with all the research I have done, the perfectionist in me is freaking out about how this will go. People say that RE investors get a bad rep because of the greedy ones among us and from what I've seen/read it's even worse with wholesalers.

I want to go into this the right way and I know that I will make mistakes in the beginning and that's ok. I just want to hear from you all what I can do to help YOU. At the end of the day, that's all I believe a wholesaler does... bring an opportunity to light for the flipper/landlord and bring a motivated seller out of a bad situation. I believe you should be able to do both without anyone coming out at a loss. So, if there's any reason you won't work with a wholesaler, any bad experiences you've had when working with one, or anything you haven't seen that you wish wholesalers would do, please drop a comment!

Wholesalers! For all of you guys out there who understand the idea of not giving the service you wouldn't want to receive, what have you been doing that works for you?  Is there anything you would have done differently when you started out? To partner or not to partner (that is the question)? As an experienced wholesaler, how long have gone without closing a deal when actively searching? Do you think wholesaling with a RE license is necessary? 

P.S. 

I'm too organized for my own good so to show you guys how much effort I'm trying to put into doing this right, here's my growing list of things to know/complete before my start date:

1. Create a fixed cost and/or 70% rule spreadsheet
2. Make a "property viewing" sheet for when I visit the property
3. Create a list of target zipcodes
4. Research different companies to get an idea of repair costs in the area
5. Create a marketing campaign with a schedule of when to do what
6. Come up with a written strategy for finding cash buyers fast
7. Make a list of nearby title companies
8. Start written market research for each zipcode

To answer the questions you're probably thinking right now: Yes, I do this with pretty much everything and yes, I do usually get it done in timely fashion.

- RHY